ELVN vs ERAS: Correlation
Enliven Therapeutics, Inc. (ELVN) and Erasca, Inc. (ERAS) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVN and ERAS?
On 3 years of weekly data the ELVN/ERAS correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 4324.8 %².
Few assets follow ELVN as closely as ERAS, which ranks #1 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with ERAS ahead by 940.9 points (+192.6% versus +1133.5%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ELVN vs ERAS: side by side
| ELVN (Enliven Therapeutics, Inc.) | ERAS (Erasca, Inc.) | |
|---|---|---|
| 1-year return | +192.6% | +1133.5% |
| 5-year return | +225.3% | -17.1% |
| Volatility (ann.) | 84.7% | 99.2% |
| Beta vs S&P 500 | 1.32 | 1.88 |
| Max drawdown (3Y) | -49.5% | -67.7% |
| Market cap | $4.4B | $6.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVN | ERAS |
|---|---|---|
| 2022 | +81.8% | -72.3% |
| 2023 | -15.4% | -50.6% |
| 2024 | +62.6% | +17.8% |
| 2025 | -31.6% | +48.2% |
| 2026 | +292.9% | +423.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVN and ERAS good diversifiers for each other?
Only partially. A correlation of 0.51 means ELVN and ERAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ELVN and ERAS?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.57 over the last year and 0.34 over 5 years.
Is ERAS a good diversifier for ELVN?
Only partially. A correlation of 0.51 means ELVN and ERAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elvn-vs-eras.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/elvn-vs-eras/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ELVN correlations · ERAS correlations
